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March 25, 2007

Global Warming spurs race for arctic resources

"The latest report by the U.N. Intergovernmental Panel on Climate
Change says the ice cap is warming faster than the rest of the planet
and ice is receding, partly due to greenhouse gases. It's a
catastrophic scenario for the Arctic ecosystem, for polar bears and
other wildlife, and for Inuit populations whose ancient cultures depend
on frozen waters.

But some see a lucrative silver lining of riches waiting to be
snatched from the deep, and the prospect of timesaving sea lanes that
could transform the shipping industry the way the Suez Canal did in the
19th century."